Former services to Russia re-assigned 
Finnlines is no longer serving Russian ports. On 9 March 2022, it decided to unilaterally interrupt its traffic to Russia, although it was not legally obliged to do so. Thus, the holding Grimaldi Group, which operates these routes through Finnlines, cut four services to Russia... more
Russian cargo throughput in German sea ports
The German Federal Statistical Office (Destatis) reports that the Russian Federation was the most important trading partner of the German seaports from January to November 2021, handling around 24.1 million t, 45% of which were fossil fuels. Russia thus accounts for 9% of... more
Thai ports benefited in 2021
The state-run Port Authority of Thailand (PAT) has reported its annual figures for 2021. It generated revenues of THB 15.6 billion (USD 508 million) last year, a rise of 6% compared to 2020. The year's profit amounted to THB 6.2 billion (USD 202 million). Of the total revenues... more
For more capacity in Manila
Philippines-based International Container Terminal Services (ICTSI) is building a new berth in its flagship Manila International Container Terminal (MICT). The construction of the new berth, which will be done in two phases, will allow MICT to handle ULCV that can carry up to... more
Sea Lead adds new loop
Singapore-based ocean carrier Sea Lead Shipping is including the Jacksonville Port Authority (Jaxport) in the rotation of its first US East Coast container service. Jacksonville will serve as the last port of call on Sea Lead’s Asia East Coast (AEC) loop connecting the Florida... more
Hapag-Lloyd to buy DAL's container liner business
Taking the opportunity to increase its service portfolio, Hapag-Lloyd has signed a framework agreement with German carrier Deutsche Afrika-Linien (DAL) to acquire its container liner business. The completion of the transaction is subject to approval by the relevant antitrust... more
Diesel pricing in frenzy
According to data published by maritime intelligence provider Vessels Value, the price for diesel continues to rise. Since the outbreak of the war in Europe on 26 February 2022, the MR Atlantic Basket (an average of freight rates on key routes in the Atlantic Basin) climbed... more
CMA CGM making it big
CMA CGM has reported its audited results for 2021. Achieving almost USD 56 billion in revenues (+78% compared to 2020), the net income went up to USD 17.94 billion (almost tenfold, +910% compared to 2020). Containerised shipping was highly profitable, standing for a total of USD... more
Tidewater expands offshore services
Banyan Overseas, a subsidiary of Hong Kong-based Swire Pacific, has entered into a sale and purchase agreement with Tidewater, a company listed on the New York stock exchange. The subject of the deal is the sale of 100% of interest in Swire Pacific Offshore. The transaction... more
ZIM sees volumes rise
ZIM has reported its consolidated results for the full year 2021: the Haifa-based carrier handled 3.48 million teu over the year, an increase of 23% compared to the same period last year, thus recording a stronger performance in this field than a number of other players in the... more